Connor Clark & Lunn Investment Management Ltd. Has $2.74 Million Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 52.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,636 shares of the construction company’s stock after selling 83,217 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Tri Pointe Homes worth $2,743,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in Tri Pointe Homes in the fourth quarter valued at approximately $5,553,000. Inspire Advisors LLC increased its stake in shares of Tri Pointe Homes by 13.0% in the 4th quarter. Inspire Advisors LLC now owns 17,547 shares of the construction company’s stock valued at $636,000 after purchasing an additional 2,022 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Tri Pointe Homes by 22.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,700 shares of the construction company’s stock worth $569,000 after buying an additional 2,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tri Pointe Homes by 13.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,760 shares of the construction company’s stock worth $1,007,000 after buying an additional 3,347 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tri Pointe Homes in the fourth quarter valued at about $1,261,000. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $31.29 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. Tri Pointe Homes, Inc. has a 52 week low of $30.25 and a 52 week high of $47.78. The firm has a market cap of $2.87 billion, a PE ratio of 6.48, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The firm’s fifty day moving average is $34.57 and its 200-day moving average is $39.34.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has initiated a stock repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on TPH shares. Evercore ISI lowered their target price on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Oppenheimer dropped their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.